Gone to the dogs: Anglo lent money to Massachusetts greyhound track which was nearly repossessed

Nationalised Anglo Irish Bank is the chief lender to a greyhound track in Massachusetts which narrowly avoided repossession last year and is one of the defendants in a multi-million dollar law suit.

The bank has been named as a defendant in a case taken against the Wonderland Greyhound Park in Revere, Massachusetts, by creditor E Mark Noonan of Allouette Capital in Boston who says that he is owed $4m (€2.95m) on a loan that should have been repaid in full by September 2007.

Anglo has been named in the suit because it is the first mortgagee for the greyhound park and, as such, Noonan's loan is considered subordinate to it. A spokesman for Anglo confirmed that the park is one of its customers but refused to comment further.

Revere City officials made moves to repossess the Wonderland Greyhound Park last year following a dispute over back taxes. The company had failed to pay two years worth of back taxes and utility bills totalling $805,967, prompting city officials to commence foreclosure proceedings which ceased when Wonderland paid up.